Meta will limit hiring this year due to slowing revenue growth
. Facebook's parent company is slowing the pace or pausing hiring for most mid-to-senior level positions altogether. It has started putting recruitment on hold, the sources said, after holding off on hiring new entry-level engineers over the past weeks. were better than expected, and its daily active users even bounced back a bit from last quarter. However, the company also expects a revenue drop next quarter in part because of the Russian invasion of Ukraine.
In addition, Facebook expects to lose $10 billion in revenue due to the changes in Apple's privacy settings on iOS. Apple introduced a new feature earlier this year that limits advertisers' access to the unique IDFA code associated with users' devices. That identifier is what gives companies a way to link a user to their Facebook data and show them targeted ads. Facebook even
asking users to allow the company to track their activity across websites and apps before the change was implemented in hopes to curb its effects on the company's business."We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly. However, we will continue to grow our workforce to ensure we focus on long-term impact.
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